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LA HB662
Bill
Status
4/23/2025
Primary Sponsor
Rodney Lyons
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AI Summary
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Levies a $1,000 tax on each commercial general liability policy or dwelling fire insurance policy issued on single-family rental properties owned by for-profit businesses with 40 or more such properties in a calendar year
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Exempts the first 39 single-family rental properties owned or acquired by a for-profit business from the tax
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Directs the Commissioner of Insurance to collect the tax and remit proceeds to the state treasurer
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Dedicates all tax revenue to the Louisiana Fortify Homes Program Fund after satisfying Bond Security and Redemption Fund requirements
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Effective July 1, 2025, applying to policy issuances and renewals on or after that date
Legislative Description
Levies an insurance premium tax and dedicates the revenue to the Louisiana Fortify Homes Program
TAX/INSURANCE PREMIUM
Last Action
Read by title, under the rules, referred to the Committee on Insurance.
4/24/2025